More than a third of Australians believe they will increase their online spending on goods and services in the next six months and one in five are spending more to support the economy in the lead up to Christmas and into 2021.
The latest results from the Monash University-led Survey of COVID-19 Responses to Understand Behaviour (SCRUB) project, released today, examined Australians’ finances, compliance with COVID-19 rules and regulations and mental health.
BehaviourWorks Australia, part of the Monash Sustainable Development Institute, is leading the Australian chapter of SCRUB in partnership with the Victorian Government.
These results, collected in mid-October, form the 10th round of data collection and provide policymakers with actionable insights into public attitudes and behaviours relating to the COVID-19 pandemic.
The pandemic’s impact on household finances was also revealed in this round of SCRUB, with 32 per cent of participants stating their household income had decreased and 34 per cent reporting their savings had taken a hit.
Only 11 per cent reported their income had increased, but a quarter reported they had saved more.
Participants were asked why their household spending had changed, with 46 per cent stating they wanted to save money they might need later and 41 per cent attributing the change to restrictions imposed by governments.
Only a small percentage of Australians (six per cent) stated they had deferred mortgage repayments and just under four per cent had received rent reductions.
In terms of future behaviour, most thought their frequency of buying goods and services in person would stay the same (55 per cent) and two-thirds believed that money spent on holidays outside of Australia would decrease slightly or a lot.
In regards to COVID-safe protective behaviours, Australians are still generally complying with hand washing, physical distancing, staying at home and wearing masks.
Just over 70 per cent of respondents said the rules applying to where they live were easy to understand.
Participants also reported on their mental wellbeing, with three-quarters stating they are in good to excellent mental health.
Lead researcher Dr Peter Slattery said the latest round of SCRUB results gave insight into what a COVID-normal existence could look like beyond 2020.
“Throughout the past few months Victoria has managed to control its second wave outbreak, while other states managed small case numbers or were able to ease restrictions further,” he said.
“Despite South Australia’s latest outbreak, Australians have more confidence heading into the festive season and summer, and hopefully a sense of freedom. It’s been a tough year for the entire country – and of course the world – with the last few months especially hard on Melburnians who will be hoping their sacrifices pay off into 2021.
“Australia appears to be heading into recovery mode and hopefully consumer spending and mental health are on the rise again.”
